Big news for small business buyers & operators The SBA has quietly made one very impactful rule change: removing the geography test for expansion acquisitions. What does this mean? If you own a business and acquire another in the same NAICS code—even in another state—it can now be treated as an expansion rather than a ‘new business.’ And since expansions often don’t require equity injections, it frees up capital for growth. Our founder, Matthias Smith, was featured in Forbes sharing his perspective on why this matters most for add-on acquisitions and operators expanding across state lines. This won’t spark a surge of deals overnight, but it removes a major barrier for buyers and lenders. For many entrepreneurs, it could mean the difference between getting a deal done—or not. Full article here: Forbes: redacted At Pioneer Capital Advisory LLC, we’re already talking with buyers about how this rule can reshape deal structures and open more doors for SBA-backed growth.